Million Dollar Baby: 5 Ways to Turn Your Business Idea into Millions

I absolutely believe everybody has at least one million-dollar idea. But most people can’t figure how to transform a mediocre idea into a blockbuster. I’ve created five steps almost anyone can follow to get going in the right direction.

Personally, I’ve had eight different products and services eclipse the million-dollar mark, pretty much without a business plan or any outside investments. Many times, I come back to these five “hooks,” or angles, to create them.

1. Hook #1: Give Them the Fish

You’ve probably heard the old phrase, “Give a man a fish and he can eat for a day, but teach a man to fish and he can eat for a lifetime.”

I’m here to tell you: when it comes to product development don’t believe it! If you take that saying seriously, you’ll be up all night, wondering where you went wrong teaching people to fish. Trust me: people want that fish handed to them!

Make it insanely easy for people to do something “painful,” and they will pay you money – lots of it. A good example of this rule can be found in my first million-dollar product, InstantSalesLetters.com. I created fill-in-the-blank sales letter templates for just about any type of business to sell their product or service. Customers loved it because it saved a tremendous amount of time and thinking, and it really worked.

2. Hook #2: Make Your Promise Specific

It’s critical to make your promise specific and credible. Realistically, not everything happens within a perfect increment of time. Think about real numbers, numbers that people deal with daily, and base your claim around that concept.

Think about 8 Minute Abs or 5-hour ENERGY. Both of these concepts have made massive amounts of money, pretty much off the strength of their specific promise. Another example I saw my wife, Missy, bring home the other day was a 6-ingredient cookbook. Make your idea, brand name or slogan unique and specific.

3. Hook #3: Go the Opposite Direction

There’s a difference between being different and trying to be different. This is tip number three: go the opposite direction. My biggest example of “zigging when others are zagging” is found within the Underground® seminars I created.